Presentation by OECD John Davies - Romanian Competition Assessment project launch
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John Davies, Head of the Competition Division, discusses regulatory reform and its impact on productivity and economic growth. The OECD has developed a toolkit to assess existing laws and regulations for their effect on competition. This toolkit was applied in a joint project between the OECD and Mexico's competition agency covering several sectors. It was also used to review four sectors in Greece, identifying over €5 billion in potential annual consumer benefits from regulatory changes. The document concludes with plans for the OECD to work jointly with Romania's competition council to review three sectors and provide recommendations.
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Presentation by OECD John Davies - Romanian Competition Assessment project launch
- 1. COMPETITION ASSESSMENT John Davies, Head, Competition Division October 2014
- 2. Regulation can stifle growth by hampering productivity Source - Arnold, J., Nicoletti, G. and Scarpetta, S. (2011). “Does anti-competitive regulation matter for productivity? Evidence from European firms”. IZA Discussion Paper No. 5511. Increase in multi-factor productivity compared to regulatory stance Faster growing More regulated
- 3. Pro-competitive reform can help Source: OECD. *Three-year moving average -4 -2 0 2 4 6 8 Smoothed* GDP growth - Australia and OECD Australia OECD - Total "Hilmer reforms": competition assessment of all new and existing laws and regulations
- 4. OECD has developed a Toolkit Step One: Competition Checklist: Does the Law or Regulation: Limit the number or range of suppliers? Limit the ability of suppliers to compete? Reduce the incentive of suppliers to compete vigorously? Restrict consumer choice?
- 5. OECD has developed a Toolkit Step Two: Full evaluation of selected rules Identifying the underlying policy objectives; Stating alternative regulations; Evaluating the competitive effects of each alternative; and, Comparing the alternatives.
- 6. OECD has developed a Toolkit Applied in Mexico in joint project with competition agency covering: • Banks • Airports • Limits on foreign participation in: – Telecoms – Broadcasting – Transportation • Municipal regulations
- 7. Reviewed 4 sectors in Greece, totalling 21% of GDP, in 2013 Issue Annual Benefit Number of provisions affected Value, €m “Fresh” milk €33m (consumer benefit/year) 2 33 Levy on flour €8m-11m (value of levy/year) 1 8 Sunday trading €2.5bn (annual expenditure), plus 30,000 new jobs 3 2 500 Sales and discounts €740m (annual turnover) 9 740 Over the Counter pharmaceuticals €102m (consumer benefit/year) 23 102 Marinas €2.3m (annual turnover) 10 2 Cruise business €65m (annual turnover) 4 65 Advertising €1.8b (consumer benefit/year) 14 1 800 Everything else ??? 263 ??? Total: €5.2bn + ???
- 8. Romania has more regulated product markets than OECD countries 0 0.5 1 1.5 2 2.5 3 3.5 India China Brazil Turkey Indonesia Russian Federation South Africa Israel Croatia Mexico Korea Greece Slovenia Romania Cyprus Poland Latvia Bulgaria Malta Sweden Lithuania Chile Switzerland Iceland France Norway Luxembourg Ireland Spain Canada Japan Czech Republic Belgium Slovak Republic Hungary Portugal Germany Finland Estonia Australia Italy New Zealand Denmark Austria United States United Kingdom Netherlands Source: OECD 2013: http://stats.oecd.org/Index.aspx?DataSetCode=PMR#
- 9. 0 0.5 1 1.5 2 2.5 3 3.5 4 India China Brazil Turkey Israel Mexico Malta South Africa Spain Cyprus Iceland Romania Latvia Chile Croatia Ireland Indonesia Greece Korea Czech Republic Slovenia Belgium Luxembourg Sweden Bulgaria Hungary Norway Australia France Japan Germany Poland Lithuania Estonia Switzerland Finland Russian Federation United Kingdom Portugal Canada Austria Denmark United States Italy Netherlands New Zealand Slovak Republic Romania has relatively high barriers to entrepreneurship Source: OECD 2013: http://stats.oecd.org/Index.aspx?DataSetCode=PMR#
- 10. • Review three sectors: – Food processing – Transport (freight) – Construction (materials, tenders) • Joint team OECD-RCC • OECD report to Government of Romania • Detailed recommendations for implementation • Capacity building and knowledge transfer Plan for joint work with Romanian Competition Council